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Sandoz Group AGXSWX:SDZ +3.14%11 Net-Net Working Capital is CHF-14.01 as of Dec. 2025. GuruFocus rates XSWX:SDZ with a GF Score™ of 11/100. The stock has 6 warning signs investors should review. Among 415 Drug Manufacturers companies, Sandoz Group AG ranks worse than 240963.61% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Sandoz Group AG's Net-Net Working Capital for the quarter that ended in Dec. 2025 was CHF-14.01.
The industry rank for Sandoz Group AG's Net-Net Working Capital or its related term are showing as below:
XSWX:SDZ's Price-to-Net-Net-Working-Capital is not ranked *
in the Drug Manufacturers industry.
Industry Median: 7.77 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Sandoz Group AG (XSWX:SDZ) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Sandoz Group AG Net-Net Working Capital Related Terms
Sandoz Group AG Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Sandoz Group AG's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XSWX:SDZ vs ZTS, UTHR, VTRS: Net-Net Working Capital Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Sandoz Group AG's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Sandoz Group AG Price-to-Net-Net-Working-Capital vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Sandoz Group AG's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Sandoz Group AG's Price-to-Net-Net-Working-Capital falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of CHF-14.01 mean?
Sandoz Group AG (XSWX:SDZ) has a Net-Net Working Capital of CHF-14.01 as of Dec. 2025. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Sandoz Group AG According to the industry distribution chart, Sandoz Group AG ranks #999999 out of 415 companies in the Drug Manufacturers industry.
Is Sandoz Group AG's Net-Net Working Capital too high?
Sandoz Group AG's current Net-Net Working Capital is CHF-14.01. Based on the distribution chart, Sandoz Group AG ranks #999999 out of 415 companies in the Drug Manufacturers industry, which is in the bottom quartile relative to peers. Overall, Sandoz Group AG has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Sandoz Group AG's Net-Net Working Capital compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Sandoz Group AG ranks #999999 out of 415 companies for Net-Net Working Capital. This places Sandoz Group AG in the lower half of its industry. The industry median Net-Net Working Capital is 7.77. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Drug Manufacturers company?
The median Net-Net Working Capital among Drug Manufacturers companies is 7.77, based on 415 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Sandoz Group AG For the Drug Manufacturers industry, the median Net-Net Working Capital is 7.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sandoz Group AG's current Net-Net Working Capital is CHF-14.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sandoz Group AG stock overvalued right now?
Sandoz Group AG (XSWX:SDZ) has a current Net-Net Working Capital of CHF-14.01. The current Net-Net Working Capital is CHF-14.01. Sandoz Group AG's overall GF Score™ is 11/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Sandoz Group AG (XSWX:SDZ), the current Net-Net Working Capital is CHF-14.01 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Sandoz is one of the largest generic pharmaceutical manufacturers in the world, generating over $11 billion annually from off-patent drugs. Once part of Novartis, Sandoz spun off and went public in October 2023. Generics, including small molecules and complex injectables, make up roughly 75% of Sandoz's total sales, and the firm has a significant presence in Europe, the United States, and other key international markets. Sandoz generates its remaining sales from biosimilars and is among the leaders in the space. Sandoz launched Europe's first biosimilar, Omnitrope, in 2006, as well as the first US biosimilar, Zarxio, in 2015. It has over 10 launched biosimilars in a number of markets and over 20 assets in its pipeline.
11GF Score
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